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2021-03-31-accounts

THE ABBEYFIELD SANDERSTEAD

SOCIETY LIMITED

ANNUAL REPORT AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

COMPANY REGISTRATION No: 719534

CHARITY REGISTRATION No: 233004

Independent Examiners Ltd

Unit 2 The Broadbridge Business Centre Delling Lane

Bosham PO18 8NF

1

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page 3 Legal & Administrative Information.
Pages 4 to 5 Report of the Directors.
Page 6 Statement of Financial Activities.
Page 7 Balance Sheet.
Pages 8 to 13 Notes to the Financial Statements.
Page 14 Independent Examiner's Report on the Accounts.

2

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY REGISTRATION NUMBER 233004 COMPANY REGISTRATION NUMBER 719534 DATE OF INCORPORATION 28th March 1962 START OF FINANCIAL YEAR 1st April 2020 END OF FINANCIAL YEAR 31st March 2021 DIRECTORS AT 31ST MARCH 2021 Mr R J Brimble (EXECUTIVE COMMITTEE) Mrs M Brown (Chair) Mr B A Dymond Dr E Leonard Mrs L A Talbot C Littlewood GOVERNING DOCUMENT Memorandum and Articles of Association Incorporated 28th March 1962. OBJECTS To relieve aged, impotent and poor people of all classes, for the advancement of religion and education and for other charitable purposes beneficial to the community. REGISTERED ADDRESS 2 Beechwood Road Sanderstead South Croydon Surrey CR2 0AA BANKERS Barclays Bank plc 1 Churchill Place London E14 5HP INDEPENDENT EXAMINER Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

3

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Abbeyfield Sanderstead Society Limited is a registered charity (No. 233004) and a registered housing association (No. H0J69). It is a company limited by guarantee (No. 00719534) which does not have a share capital. Every member of the Society undertakes to contribute an amount not exceeding £1 to the assets of the Society in the event of winding up. The total number of such members at 31st March 2021 was 24 (2020 - 24).

The activities of the Society are overseen by the Executive Committee. Members of the Committee are elected at an Annual General Meeting and serve for a period of three years after which they must seek re-election if wishing to continue in office.

RECRUITMENT AND APPOINTMENT OF MEMBERS OF THE EXECUTIVE COMMITTEE

Traditional business and care skills are represented on the Executive Committee. In an effort to maintain this broad skill mix, potential members of the Executive Committee are requested to provide a list of their skills. In the event of particular skills being lost through retirements, individuals with those skills are approached to offer themselves for election to the Executive Committee. Potential Committee members are interviewed by the Executive Committee before being recommended for appointment at an Annual General Meeting.

New Members are given an information pack on the constitution and governance of the Society and are also taken on an induction tour of the homes to meet the managers, staff and residents. New Members have an opportunity to meet with the Executive Officer and to attend the Executive Committee meetings.

RISK MANAGEMENT

The Executive Committee has conducted a review of the major risks to which the Society is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks that the Society faces. The systems of internal controls are reflected in that the Society has received the Abbeyfield Standard and has also been accredited by the Local Authority.

OBJECTS AND ACTIVITIES

To provide accommodation, care and companionship for lonely or frail elderly people in accordance with the aims and principles of The Abbeyfield Society Limited. This activity falls wholly within social housing activities as defined in the Housing and Regeneration Act 2008.

ACHIEVEMENTS AND PERFORMANCE

The Society has successfully fulfilled its objectives during the year. Further information detailing the achievements and performance of the Society can be found in the Chair's Report annexed hereto below.

FINANCIAL REVIEW

The Society incurred a small surplus for the year of £176 (2019 - surplus of £4,467). The results for the year are set out in the financial statements attached.

PUBLIC BENEFIT REQUIREMENT

The Members of the Executive Committee have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission concerning the public benefit requirement.

CHAIRPERSON'S REPORT

With the onset of the Coronavirus Pandemic, 2020/2021 has been an extremely challenging year for the Society. Going into lockdown in March 2020, we arranged for one our Relief House Manager's to live at the house working alongside our House Manager. Our other Relief House Manager was furloughed and our cleaner opted not to continue working at the house until restrictions eased. Cleaning Duties were covered by the resident Relief House Manager. Food shopping was changed to on-line ordering. Our Administrator continued his duties safely occasionally working from home.

4

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (continued)

FOR THE YEAR ENDED 31ST MARCH 2021

CHAIRPERSON'S REPORT

During the summer months when restrictions eased, we arranged outside entertainments for the residents to enjoy. Unfortunately, on 23rd December 2020, both our Relief House Managers tested positive for Covid and our House Manager isolated as a precaution. A few days later a resident also tested positive. We were entirely without staff from 23rd December to 2nd January. With the help of three trustees, one volunteer and three relatives we were able to arrange alternative cover. We went through the reporting process with Public Health England and conducted the required PWR testing of everyone attending the house. Thankfully, everyone with positive tests recovered well and no-one else contracted the infection. During the year, one resident moved on to further care, a second passed away (non-Covid related) and a third moved to live near relatives. A new resident joined the house in March 2021 bringing the total number of residents to 6. I would like to record my grateful thanks to Trustees, Staff and volunteers for their unstinting care and devotion to duty throughout the year, without them we would not be in our current healthy position.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

i. select suitable accounting policies and then apply them consistently;

ii. make judgements and estimates that are reasonable and prudent;

iii. prepare financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business;

iv. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.

The directors are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act, the Housing and Regeneration Act 2008 and the Accounting Requirements for Registered Social Landlords Determination 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are also responsible for the contents of the Report of the Directors, and the responsibility of the independent examiner in relation to the Report of the Directors is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

I approve the attached statement of financial activities and balance sheet for the year ended 31st March 2021, and confirm that I have made available all information necessary for its preparation.

Approved by the Directors on the 13th August 2021

Signed on their behalf by Mrs M Brown, Chairperson and Director.

5

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021

Notes
INCOME
Donations and Legacies
2a
Income from other Charity Activities
2b
Income from Investments
2c
TOTAL INCOME
EXPENDITURE
Expenditure on Charitable Activities
3a
TOTAL EXPENDITURE
NET INCOME/ (EXPENDITURE)
Fund Brought Forward
TOTAL FUNDS CARRIED FORWARD
Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2021
2020
£
£
£
£
£
4,336
-
-
4,336
23
109,845
-
-
109,845
113,578
34
-
-
34
128
114,215
-
-
114,215
113,729
114,039
-
-
114,039
109,262
114,039
-
-
114,039
109,262
176
-
-
176
4,467
446,245
-
-
446,245
441,778
446,421
-
-
446,421
446,245

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 8 to 13 form part of these financial statements.

6

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET AS AT 31ST MARCH 2021

Note
Fixed Assets
Tangible Assets
6
Current Assets
Debtors & Prepayments
7
Cash at Bank and in Hand
8
Total Current Assets
Creditors:amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL ASSETSless current liabilities
Creditors:amounts falling due in more than
one year
10
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted Funds
Designated Funds
Restricted Funds
TOTAL FUNDS
Unrestricted
Restricted
31-Mar-21
31-Mar-20
Funds
Funds
Total
Total
£
£
£
£
531,496
-
531,496
534,358
531,496
-
531,496
534,358
2,651
-
2,651
2,735
51,947
-
51,947
48,428
54,598
-
54,598
51,163
4,673
-
4,673
4,276
49,925
-
49,925
46,887
581,421
-
581,421
581,245
135,000
-
135,000
135,000
446,421
-
446,421
446,245
446,421
-
446,421
446,245
-
-
-
-
-
-
-
-
446,421
-
446,421
446,245

DIRECTORS' RESPONSIBILITIES

The charitable company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 14.

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

Approved by the Directors on the 13th August 2021

Signed on their behalf by Director M Brown

Print Name: Mrs M Brown, Chairperson and Director.

Company Registration Number: 719534

7

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES

Basis of Preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - Charities SORP (FRS102)) and incorporating update bulletin 1, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for Social Housing in England 2012. The accounts have been prepared on an ongoing concern basis.

The functional currency of the charity is sterling (£).

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.

The charity has opted to prepare its accounts using natural categories.

Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period.

Material prior period errors

No material prior year errors have been identified in the reporting period.

Incoming Resources

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and Donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).

Tax Reclaims on Donations and Gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Gifts in Kind

Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report.

8

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES (Continued)

Expenditure and Liabilities

Liability Recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance and Support Costs

Support costs represent the cost of central functions, for example governance costs, payroll administration, information technology. Governance costs are those support costs which relate to public accountability of the charity and its compliance with regulation and good practice.

Deferred income

No material item of deferred income has been included in the accounts.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Social Housing Grant

The Society is in receipt of Social Housing Grants, formerly called Housing Association Grants (HAG). Where developments have been wholly or partially funded by such grants, the cost of these developments has been reduced by the value of the grant received. The value of the grant is disclosed as a separate item. These grants may be repayable in the event that the relevant property is sold by the Society, or if certain other relevant events take place, but can be rolled over into other purchase or development activities in certain circumstances.

Fixed Assets

These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation Expense

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance over their estimated useful lives. The rates applied per annum are as follows:

Freehold Buildings 1% Fixture, Fittings & Equipment 25%

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

9

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

2. INCOME

Unrestricted Unrestricted Designated Restricted TOTAL TOTAL
Funds Funds Funds 2021 2020
Notes £ £ £ £ £
a) Donations and Legacies
Gifts & Donations 170 - - 170 23
Grants received - Other 2,000 - - 2,000 -
Grants received - Government job 2,166 - - 2,166 -
retention scheme
4,336 - - 4,336 23
b) Income from other Charitable Activities
Fundraising Events - - - - 489
Rent Receivable 5 109,845 - - 109,845 113,089
109,845 - - 109,845 113,578
c) Income from Investments
Bank Interest 34 - - 34 128
34 - - 34 128
3. EXPENDITURE
Unrestricted
Funds
£
a) Expenditure on Charitable Activities
Designated
Funds
£
Restricted
Funds
£
TOTAL
2021
£
TOTAL
2020
£
Bank Charges 195 - - 195 198
Careline 1,345 - - 1,345 1,738
Cleaning 2,749 - - 2,749 1,867
Council Tax 2,974 - - 2,974 2,861
Depreciation 2,862 - - 2,862 2,897
Gardening 2,479 - - 2,479 1,371
Housekeeping 19,286 - - 19,286 20,907
Independent Examination 1,020 - - 1,020 930
Insurance 3,289 - - 3,289 3,006
Lighting & Heating 8,499 - - 8,499 7,487
Office Expenses 1,656 - - 1,656 1,536
Pensions 1,575 - - 1,575 1,505
Repairs & Redecoration 13,207 - - 13,207 17,441
Salaries & NI Contributions 43,590 - - 43,590 34,581
Subscriptions - The Abbeyfield Soc. 2,554 - - 2,554 2,516
Sundries 3,638 - - 3,638 4,970
Telephone 940 - - 940 1,135
TV Licence & Rentals 316 - - 316 311
Water Rates 1,867 - - 1,867 2,006
114,039 - - 114,039 109,262

10

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2021

4. DETAILS OF CERTAIN TYPES OF EXPENDITURE

Independent examiner’s fees

Assurance services other than audit or independent examination Tax advisory fees

Other fees (for example: financial advice, consultancy, accountancy services) paid to the independent examiner

2021 2020 £ £ 1,020 930 - - - - - -

5. RENT RECEIVABLE

Income receivable based on 100% occupancy
Winter fuel allowance
Losses arising from vacancies
6. TANGIBLE FIXED ASSETS
Cost
01-Apr-20
Housing Association Grant (Note 1)
Cost at
31-Mar-21
Depreciation
01-Apr-20
Charge
Depreciation at
31-Mar-21
Net Book Value
31-Mar-21
Net Book Value
31-Mar-20
7. DEBTORS AND PREPAYMENTS
Prepayments
8. CASH AT BANK AND IN HAND
Current Account
Savings Account
Petty Cash
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
133,758
-
133,758
128,247
2,000
-
2,000
800
(24,213)
-
(24,213)
(15,958)
111,545
-
111,545
113,089
Total
Fixtures,
Freehold
Fittings &
HAG Schemes
Equipment
Title no:
SY276359
£
£
£
25,833
711,201
737,034
-
143,691
143,691
25,833
567,510
593,343
25,756
33,229
58,985
19
2,843
2,862
25,775
36,072
61,847
58
531,438
531,496
77
534,281
534,358
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
2,651
-
2,651
2,735
2,651
-
2,651
2,735
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
18,533
-
18,533
15,055
33,354
-
33,354
33,313
60
-
60
60
51,947
-
51,947
48,428
Unrestricted

11

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2021

9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals
Independent Examiners Fees
Payroll liabilities
Pension costs
Tax & NI costs
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
1,846
-
1,846
2,513
1,020
-
1,020
930
65
-
65
-
51
-
51
-
1,691
-
1,691
833
4,673
-
4,673
4,276

10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

Mortgage Loan Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
135,000
-
135,000
135,000
135,000
-
135,000
135,000

The interest free mortgage loan from the Croydon Charitable Foundation is secured on the freehold property and is repayable in February 2029.

11. STAFF COSTS AND NUMBERS

Gross Wages and Salaries
Employer's National Insurance Costs (after allowance)
Employer's Pension Contributions
Employees who were engaged in each of the following activities:
Activities in furtherance of organisation's objects
Management and administration
Total
2021
£
43,590
-
1,575
45,165
2021
TOTAL
3
1
4
2020
£
34,581
-
1,505
36,086
2020
TOTAL
3
1
4

No employees received emoluments in excess of £60,000 (2020: None). Staff are paid through the PAYE system.

The total amount paid to key management personnel (includes trustees and senior management) for their services to the charity was: £0

The charity pays employer contributions into a government backed NEST pension scheme on behalf of three employees. In 2021 these contributions totalled £543.

The charity pays employer contributions into a stakeholder private pension on behalf of one employee. In 2021 these contributions totalled £1,031.

12

THE ABBEYFIELD SANDERSTEAD SOCIETY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

12. HOUSING STOCK

Social housing accommodation, number of bed spaces

Units in Management
Units under Development
2021
TOTAL
9
-
9
2020
TOTAL
9
-
9

13. DIRECTORS AND OTHER RELATED PARTIES

No payments were made to directors or any persons connected with them during this financial period. No material transaction took place between the organisation and a dire ctoror any person connected with them.

14. RISK ASSESSMENT

See Report of the Directors on pages 4 to 5.

15. RESERVES POLICY

The directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily.

16. PUBLIC BENEFIT

See Report of the Directors on pages 4 to 5.

13

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the trustees on my examination of the accounts of The Abbeyfield Sanderstead Society Limited for the year ended 31st March 2021.

As the charity's trustees (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

Responsibilities and basis of report

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

J Irvinesmith FCIE

Date: 18th August 2021

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

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